iQmetrix’s reconciliation solution is a specialized financial module within its Interconnected Commerce platform, designed for telecom retailers. It automates the reconciliation of carrier commissions, employee commissions, taxes, and general financial transactions, integrating directly with back-office and accounting systems. The system detects discrepancies automatically, supports complex tax setups across multiple locations and products, and provides comprehensive, real-time financial reporting. This reduces manual effort, minimizes errors, and ensures accurate financial records for wireless retail businesses.

Key Features

Carrier Commissions Reconciliation Automatically detects and reconciles discrepancies in carrier commissions and rebates.

• Integrates with carrier systems and vendor rebate programs
• Reduces manual reconciliation effort
• Ensures accurate commission calculations

Employee Commissions Reconciliation Tracks and adjusts complex employee commission structures automatically.

• Manages commission ledger entries
• Supports custom payout models
• Simplifies payroll integration

Tax Management Simplifies tax tracking and compliance for multiple products and locations.

• Mass edit tools for tax setup
• Integration with external tax systems
• Handles vendor-specific taxes

General Ledger Management Provides a centralized view of all financial transactions.

• Add or delete accounts easily
• Balance debits and credits across the business
• Real-time transaction updates

Accounts Receivable Manages customer credit accounts with configurable credit limits and purchase order requirements.

• Tracks outstanding receivables
• Supports credit management policies

Budgeting and Expense Tracking Monitors store profitability by comparing estimated and actual operating expenses.

• Tracks expenses and profits
• Provides budget vs. actual analysis

Petty Cash Reconciliation Tracks dispersals and replenishment of petty cash, identifying discrepancies.

• Authorized employee access controls
• Audit trail for cash movements

Export and Integration Seamlessly exports financial data to external accounting systems or integrates via APIs.

• Compatible with common accounting formats
• Real-time data synchronization

Benefits

Error Reduction Automated reconciliation and real-time updates minimize manual errors and discrepancies.

• Improves financial accuracy
• Reduces risk of over- or under-payment

Time Savings Streamlines back-office processes, freeing staff to focus on higher-value tasks.

• Cuts manual reconciliation time
• Accelerates financial closing

Compliance Supports complex tax and regulatory requirements across jurisdictions.

• Ensures tax compliance
• Adapts to changing regulations

Operational Visibility Provides comprehensive, real-time financial reporting for informed decision-making.

• Centralized financial overview
• Actionable insights for management

Scalability Adapts to the needs of growing retail networks with multiple locations and product lines.

• Handles high transaction volumes
• Supports business expansion